McKerall v. Kaiser

SMITH, Justice.

Samuel G. McKerall appeals from a summary judgment entered in favor of Dennis Kaiser in Kaiser’s action seeking recovery on a promissory note guaranteed by McKerall. We reverse and remand.

Facts and Procedural History

On August 28, 2001, Great American Radio Network, Inc., executed a promissory note in favor of Dennis Kaiser for $300,000 (“the note”). Walter J. Bowen, the president of Great American Radio Network, and McKerall personally guaranteed the note. The terms of the note required a monthly interest payment of $3,000 for 11 months and then a balloon payment of the…